Anytime, anyplace, anywhere.
No, it's not a reference to a vacation or a competition, but rather, to today's consumer and how they wish—no, demand—that business be transacted. "The shorthand term is 'multichannel engagement,'" says Michael Howe, senior vice president of product management for Applied Systems. "Customers want to work with the agency on their terms. It's no longer sufficient to say, 'I have office hours from 8:30 a.m. to 5 p.m.'"
This method has been in place in other industries for years. In banking, think back to when ATMs first arrived on the scene; now recall the first instances of online banking and mobile deposits, which take advantage of a smartphone's optical character recognition software. Yet the insurance industry can be slow to adapt to emerging tech trends.
"I was recently sitting with an agent who is close to retirement age," recalls Chip Bacciocco, CEO of TrustedChoice.com (formerly Project CAP). "He said, 'I don't want to have a client who won't have a coffee with me.' And there's nothing wrong with that—but if you limit yourself to customers who only want to have coffee with you, you can't build an agency on that. That's not how people shop today."
Technology has changed, but not agents' core values and missions toward their customers. They are still trusted advisors who provide expertise and maintain ongoing relationships with insureds. But their delivery of such knowledge has shifted, and the ubiquity of smartphones drives much of that.
Now, customers are demanding mobility—both when shopping for prospective agencies and for their own self-service. "Consumers are judging potential agencies based on whether their websites are mobile-enhanced," says Ron Berg, executive director for the Agents Council for Technology (ACT). "They use their current experiences and expectations with other industries, and are demanding the same from the independent agent."
More than half of the web traffic for Paradiso Insurance in Stafford Springs, Conn., comes from its mobile-optimized site, says owner Chris Paradiso. And when his agency brings in between $15 and $16 million in premium volume each year (of which 40% is personal lines), those traffic visits translate to policies bound and dollars earned.
Inaction can lead to paralysis, Berg cautions. ACT has information online regarding how agencies can optimize their websites for display on mobile devices. Agents should consider responsive design—where the website automatically resizes, regardless of the device on which it's viewed. ACT stresses simplicity: Hone in on the most critical information, which includes the agency's location, hours and quoting.
For agents on the go, both Vertafore and Applied Systems offer mobile versions of their agency-management tools. Applied's MobileProducer provides a direct connection to its Applied Epic and Applied TAM agency management software to deliver account and policy details. The vendor's CSR24 and PerformanceManagement are both mobile-optimized for smartphone and tablet.
Vertafore's Producer Advantage app, for both Android and Apple iOS, connects with Pipeline Manager, AMS360 and ReferenceConnect to enhance client servicing. It also integrates with Vertafore Single Sign-On to access all Vertafore Producer Advantage capabilities and data.
Agents also can download the ACORD One app for quick access to forms and certificates while out in the field. Ideal for Android or iOS tablets, the app allows for finger-as-a-stylus signature and uses the cloud to sync data and forms.
e-sign here, please
What's driving agency technology is the consumer experience, says Steve Anderson, president of The Anderson Network, a consultancy specializing in agency technology. "Insureds didn't want to put up with opening a PDF, printing it, signing it, scanning it and sending it back."
Docusign, the official Big "I" e-signature partner, announced earlier this year a joint venture with Vertafore's Agency Platform and AMS360 Online software. "E-signature allows us to design workflows differently and keep the producers out with customers instead of having to interact by phone," says Alex Lintner, Vertafore's CEO.
E-signatures come in a variety of forms, from finger-signing on tablets or click-to-sign functionality. Besides the time savings, e-signatures ensure that all documents are signed, sealed and delivered in good working order. No sections or initials are ever missed, as the software alerts the applicant to any fields left blank.
Agencies have a responsibility to ensure signature authentication, as forgery is greater for online transactions; electronic records are generally easier to alter than paper records. An audit trail that includes tamper seals mitigates that risk.
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